Demand and prices rise across all product categories.
De Beer’s Group company Diamdel sold all of its 410 lots spanning near gem, smalls, grainers, and 2ct plus and large product categories at its fifth cycle of auctions, held between June and July.
The auctions were an opportunity for customers to buy loose diamonds at market determined prices, and this fifth auction continued to attract strong levels of participation from registered businesses across all markets.
A total of 189 different businesses based in Belgium, Israel, India and Asia Pacific bid at the auctions, with 89 different companies winning lots. A total of 410 lots were sold.
Diamdel also offered a new type of auction at the event, whereby customers could express their demand for different quantities of each product to meet their business requirements.
Jonathan Whitney, director of sales and marketing at Diamdel commented: “Prices on comparable product sales rose further across all product ranges, with the greatest gains realised in the smalls and grainers product categories.”
No single buyer won more than 37 lots from the 410 made available. By value, 55% of the lots were sold to non-Sightholders with Sightholders winning 45%.
Neil Ventura, CEO of Diamdel commented on the future outlook of diamond sales. He said: “Near term demand looks set to remain robust but may moderate in the medium term, as the dual challenges of persistently high unemployment in developed economies, and inflation in emerging markets, temper demand.”